Inventory Management helps balance supply with demand in consumer-driven supply chains. Inventory is one of the largest capital investments every business makes. That’s why savvy supply chain professionals use our Inventory Management module to more effectively plan their inventory while meeting customer demand, and ultimately optimizing their inventory investment.
Inventory is one of the largest capital investments every business makes. Today’s demanding consumers won’t tolerate stock outs and manufacturers need to turn inventory into cash. That’s why advanced supply chain organizations use our Inventory Management module to meet varying customer demand and optimize their inventory investment.
Whether your manufacturers and suppliers are local or abroad, the further out you can firm up requirements, the more they can prepare for future needs. Using a replenishment plan driven by orders and forecast, time-phased safety stocks, and a model of your multi-tiered network, planners can communicate needs to manufacturers and suppliers. The result is that lead times begin to shrink since they don't have to wait for an actual order to begin executing. Many retailers now want their suppliers to take an active role in planning their replenishment. With customer inventory positions and Point-of-Sale or shipment data, Inventory Management can determine if demand has shifted and modify plans as needed.
Inventory misalignment is a constant struggle in consumer-driven supply chains. Without the right tools in place, companies frequently have high inventory levels and still miss customer service level requirements. With John Galt Inventory Management, you can proactively handle issues using Action Messages and resolve the most critical exceptions first. Planners are alerted when there are critical under-stocks in the future as well as when orders should be delayed or cancelled. Options for alternate sources or expedite modes can be configured by product and location.
There are two important aspects related to the finished product replenishment plan: material planning and load building. Getting dependent demand right is critical for many businesses, especially regarding kits, accessories, and key raw materials or active ingredients. John Galt Inventory Management time-phased bill of materials handles these cases and contributes to improved supply chain performance. Once the recommended orders are ready for release, the Load Builder assigns orders to shipments using constraints like cost, weight or cubic footage. Planners can build full containers with the right mix of products by supplier to avoid consolidation costs.
With constantly increasing products and locations, the best way to focus on your business is to manage the inventory process by exception. John Galt Inventory Management gives planners visibility to existing orders that can be expedited, or excess inventory that can be transferred to meet a potential inventory shortage instead of opening a new order. This visibilty and control lowers inventory needs while mitigating the risk of stock outs. Likewise, if customer orders have not materialized as planned, purchase orders can be delayed, avoiding unnecessary inventory build. The key is to allow planners to see potential future problems and take action now.
Knowing where to invest in safety stock is a key component of supply chain planning. John Galt Inventory Management provides simulation to see the impact of service level, coverage days, or lead time on inventory costs. These changes can then be applied as policies at each node or tier to your automatic calculation for replenishment.
With our Inventory Management it’s easy to manage data from other systems as well as external sources, such as Point-of-Sale (POS) and data from customers or expected receipts from suppliers. The Data Loader provides quick and easy integration with other enterprise applications including SAP, Oracle, Microsoft and JDE. Customer orders, forecast, purchase orders, and master data are imported into Inventory Management and replenishment plans are published to ERP.
With Inventory Management, your team will have the tools to improve inventory turns, eliminate obsolete inventory and reduce unnecessary logistics costs. Inventory Management includes the ability to:
At John Galt we’ve helped hundreds of customers build a solid foundation for advanced inventory management programs. Regardless of whether your organization is involved in Vendor Managed Inventory (VMI), Just-in-Time Inventory (JIT), Efficient Consumer Response (ECR) or Collaborative Planning, Forecasting and Replenishment (CPFR), our Inventory Management module is ready to support your needs.